How Wall Street will value IOC .

[jft310]

The Street is fairly consistent with valuation techniques .

Two things will reduce the volatility

1) the dollars size of the payment . The Street will divide the cash received by the number of shares as one measure . Cash per share .

2) the street will use a discounted cash flow model when the concept is selected and size revealed . The expected cash flow will be risked using a discounted cash flow model . With a Total partner 8-10 percent should be the discount per year applied .

The cash receipt and expected cash flow discounted back to today will value the company at a higher price than today .

Today the inputs are unknown for that methodology so we have volatility .

[calvin grad]

I did not buy IOC for the cash flow in 2021 or 2022 or whenever. I believe that cash flow of 15.00 per share is very conservative from EA. If need be I can wait for that. I also believe that in Raptor and or Wahoo and or Bobcat we will prove  10 or more T. The market does not give that much value but Total is paying  3 billion for that in EA. OSH and or Exxon wanted to pay that so badly they went to court for that privilege. I disagree with the market currently but if IOC executes the market will correct

[Putncalls]

I asked M. Lynne to comment on the OSH information regarding A4 and he made no comment. Does MS know that Kirk is a problem?